Stablecoins by Market Capitalization
| # | Coin | Price | 24h Volume | Exchanges | Market Cap | 30d | Last 30 Days Circulation | ||
|---|---|---|---|---|---|---|---|---|---|
| 3 |
Tether
USDT
|
Buy
|
$0.9997 | $32,077,332,482 | 334 | $110,428,310,097 | 6.0% |
|
|
| 6 |
USDC
USDC
|
Buy
|
$1.00 | $7,466,467,604 | 325 | $33,309,976,381 | 4.0% |
|
|
| 25 |
Dai
DAI
|
Buy
|
$1.00 | $414,973,682 | 230 | $5,209,820,841 | 6.0% |
|
|
| 27 |
First Digital USD
FDUSD
|
$0.9996 | $8,573,618,477 | 14 | $4,399,201,005 | 66.9% |
|
||
| 53 |
Ethena USDe
USDE
|
$1.00 | $79,796,305 | 7 | $2,369,591,773 | 80.9% |
|
||
| 125 |
USDD
USDD
|
$0.9816 | $6,315,406 | 19 | $711,428,717 | 3.2% |
|
||
| 133 |
Frax
FRAX
|
Buy
|
$1.00 | $35,551,878 | 49 | $650,222,885 | 0.4% |
|
|
| 155 |
Tether Gold
XAUT
|
$2,317.02 | $9,831,967 | 26 | $571,202,914 | 6.7% |
|
||
| 161 |
TrueUSD
TUSD
|
$1.00 | $40,817,514 | 57 | $507,935,871 | 19.3% |
|
||
| 191 |
PAX Gold
PAXG
|
$2,302.72 | $8,899,084 | 37 | $424,369,395 | 6.5% |
|
||
| 305 |
PayPal USD
PYUSD
|
$1.00 | $17,990,584 | 20 | $203,024,853 | 7.1% |
|
||
| 338 |
TerraClassicUSD
USTC
|
$0.01894 | $10,223,056 | 27 | $169,539,943 | 37.3% |
|
||
| 348 |
Alchemix USD
ALUSD
|
$0.9893 | $339,611 | 4 | $164,502,234 | 0.4% |
|
||
| 382 |
Pax Dollar
USDP
|
$1.00 | $6,528,928 | 27 | $139,276,801 | 20.6% |
|
||
| 400 |
STASIS EURO
EURS
|
$1.07 | $1,416,474 | 8 | $133,323,947 | 1.0% |
|
||
| 423 |
crvUSD
CRVUSD
|
$1.00 | $32,488,848 | 6 | $120,966,205 | 20.4% |
|
||
| 450 |
Liquity USD
LUSD
|
$1.00 | $1,291,401 | 21 | $112,050,132 | 10.2% |
|
||
| 476 |
Gemini Dollar
GUSD
|
$0.9999 | $2,172,618 | 10 | $103,000,249 | 25.6% |
|
||
| 505 |
USDX
USDX
|
$0.8216 | $348,210 | 2 | $91,494,845 | 6.9% |
|
||
| 544 |
DOLA
DOLA
|
$1.00 | $7,727,598 | 10 | $78,574,596 | 38.9% |
|
||
| 579 |
BUSD
BUSD
|
Buy
|
$0.9986 | $562,602 | 54 | $70,367,267 | 16.5% |
|
|
| 659 |
Magic Internet Money
MIM
|
$0.9892 | $1,015,140 | 31 | $55,417,808 | 0.0% |
|
||
| 708 |
GHO
GHO
|
$0.9986 | $19,069,007 | 4 | $48,814,233 | 24.0% |
|
||
| 710 |
Lista USD
LISUSD
|
$0.9828 | $305,739 | 7 | $48,623,235 | 26.5% |
|
||
| 716 |
sUSD
SUSD
|
$0.9979 | $1,919,006 | 8 | $47,887,446 | 1.1% |
|
||
| 735 |
Bean
BEAN
|
$0.9784 | $28,619.66 | 1 | $45,388,211 | 4.9% |
|
||
| 779 |
TOR
TOR
|
$2.39 | $0.00 | 4 | $40,811,167 | 80.0% |
|
||
| 806 |
XSGD
XSGD
|
$0.7367 | $15,460,703 | 12 | $38,453,739 | 4.3% |
|
||
| 810 |
Euro Tether
EURT
|
$1.05 | $3,201,869 | 27 | $38,199,049 | 2.2% |
|
||
| 823 |
Celo Dollar
CUSD
|
$1.00 | $2,938,708 | 12 | $37,506,039 | 3.7% |
|
||
| 827 |
flexUSD
FLEXUSD
|
$0.2249 | $32.92 | 4 | $37,266,470 | 23.6% |
|
||
| 987 |
MAI
MIMATIC
|
$0.9488 | $140,007 | 10 | $26,151,646 | 14.6% |
|
||
| 1032 |
EURA
EURA
|
$1.06 | $767,298 | 13 | $23,569,683 | 20.2% |
|
||
| 1062 |
Verified USD
USDV
|
$0.9970 | $5,203,646 | 15 | $22,333,649 | 10.9% |
|
||
| 1122 |
BiLira
TRYB
|
$0.03029 | $1,569.53 | 5 | $19,632,526 | 31.8% |
|
||
| 1142 |
Prisma mkUSD
MKUSD
|
$0.9821 | $1,406,879 | 2 | $18,960,115 | 66.7% |
|
||
| 1228 |
dForce USD
USX
|
$0.9874 | $11,178.77 | 13 | $15,785,911 | 57.5% |
|
||
| 1258 |
Fei USD
FEI
|
$0.9626 | $12,617.51 | 3 | $14,878,893 | 1.6% |
|
||
| 1291 |
GYEN
GYEN
|
$0.006348 | $7,419.74 | 6 | $13,751,726 | 6.3% |
|
||
| 1298 |
HUSD
HUSD
|
$0.07204 | $15,428.82 | 4 | $13,530,726 | 5.1% |
|
||
| 1354 |
YUSD Stablecoin
YUSD
|
$0.9960 | $0.9998 | 2 | $11,842,811 | 1.1% |
|
||
| 1412 |
eUSD
EUSD
|
$0.9628 | $21,523.63 | 1 | $10,545,408 | 52.0% |
|
||
| 1474 |
Celo Euro
CEUR
|
$1.07 | $1,077,607 | 5 | $9,185,239 | 5.3% |
|
||
| 1514 |
Origin Dollar
OUSD
|
$0.9976 | $251,801 | 4 | $8,507,227 | 23.6% |
|
||
| 1597 |
USK
USK
|
$0.9843 | $362,384 | 3 | $7,280,961 | 13.4% |
|
||
| 1791 |
Vai
VAI
|
$0.9958 | $8,663.55 | 6 | $5,069,143 | 31.1% |
|
||
| 1895 |
Silk
SILK
|
$1.08 | $194,967 | 2 | $4,111,268 | 4.4% |
|
||
| 1915 |
Djed
DJED
|
$0.9921 | $130,372 | 2 | $3,995,508 | 1.3% |
|
||
| 2038 |
mStable USD
MUSD
|
$0.9977 | $9,755.34 | 3 | $3,184,977 | 0.3% |
|
||
| 2091 |
CNH Tether
CNHT
|
$0.1390 | $715.66 | 1 | $2,846,618 | 1.3% |
|
||
| 2126 |
Equilibrium EOSDT
EOSDT
|
$0.5002 | $0.2001 | 2 | $2,697,390 | - |
|
||
| 2180 |
eUSD (OLD)
EUSD
|
$0.9631 | $61.57 | 1 | $2,436,756 | - |
|
||
| 2197 |
VNX EURO
VEUR
|
$1.07 | $47,361.78 | 9 | $2,357,984 | 2.1% |
|
||
| 2221 |
Parallel
PAR
|
$1.00 | $6,617.01 | 6 | $2,241,663 | 5.4% |
|
||
| 2363 |
R
R
|
- | $120,313 | 0 | $1,762,295 | - |
|
||
| 2611 |
Sperax USD
USDS
|
$1.00 | $61,094.43 | 2 | $1,137,418 | 0.8% |
|
||
| 2699 |
Convertible JPY Token
CJPY
|
$0.005612 | $1,866.96 | 2 | $963,894 | 514.2% |
|
||
| 2711 |
sEUR
SEUR
|
$1.01 | $12,359.50 | 1 | $947,494 | 45.5% |
|
||
| 2774 |
SpiceUSD
USDS
|
$0.1023 | $12.80 | 4 | $850,150 | 19.2% |
|
||
| 2948 |
Zasset zUSD
ZUSD
|
$0.9626 | $177.91 | 2 | $612,658 | - |
|
||
| 3086 |
XIDR
XIDR
|
$0.00006167 | $42,240.22 | 3 | $466,837 | 2.7% |
|
||
| 3245 |
BOB
BOB
|
$1.00 | $5,729.47 | 8 | $341,980 | 0.0% |
|
||
| 3476 |
Basis Cash
BAC
|
$0.003693 | $19,525.45 | 2 | $201,161 | 6.7% |
|
||
| 3641 |
One Cash
ONC
|
$0.09336 | $16,930.55 | 2 | $142,965 | 20.4% |
|
||
| 3839 |
poundtoken
GBPT
|
$0.7454 | $33,419.52 | 3 | $79,344.43 | 39.7% |
|
||
| 4060 |
Coin98 Dollar
CUSD
|
$0.7249 | $17.20 | 4 | $33,035.23 | 5.6% |
|
||
| 4199 |
USD Balance
USDB
|
$0.05297 | $41.80 | 2 | $10,231.56 | 27.9% |
|
||
| 4258 |
Vesta Stable
VST
|
$1.00 | $30,061.34 | 2 | $1,722.60 | 99.2% |
|
||
Fraxtal Bridged FRAX (Fraxtal)
FRAX
|
Buy
|
$0.9086 | $168,954 | 3 | - | 0.0% |
|
||
USDS Classic
USDS
|
- | $0.7488 | 0 | - | - |
|
|||
Qcash
QC
|
$0.08640 | $19,917.09 | 0 | - | - |
|
|||
XDAI
XDAI
|
$1.00 | $2,244,590 | 7 | - | 0.0% |
|
|||
bDollar
BDO
|
$0.02118 | $922.16 | 2 | - | 0.0% |
|
|||
CAD Coin
CADC
|
$0.7403 | $834.54 | 3 | - | - |
|
|||
Iron
IRON
|
$0.0002509 | $121.30 | 1 | - | 0.0% |
|
|||
Wrapped USTC
USTC
|
$0.01940 | $13,219.79 | 11 | - | 0.0% |
|
|||
Jarvis Synthetic Euro
JEUR
|
$0.9823 | $667.71 | 7 | - | 0.0% |
|
|||
Jarvis Synthetic Swiss Franc
JCHF
|
$1.06 | $328.70 | 3 | - | 0.0% |
|
|||
xDollar Stablecoin
XUSD
|
$1.05 | $56.96 | 4 | - | 0.0% |
|
|||
Iron BSC
IRON
|
$0.01342 | $1.11 | 1 | - | - |
|
|||
Synth oUSD
OUSD
|
$0.9905 | $44.37 | 0 | - | - |
|
|||
JPY Coin v1
JPYC
|
$0.007919 | $10.26 | 5 | - | 0.0% |
|
|||
SORA Synthetic USD
XSTUSD
|
$0.4672 | $425.93 | 2 | - | - |
|
|||
Monerium EUR emoney
EURE
|
$1.07 | $303,033 | 5 | - | 0.0% |
|
|||
Decentralized USD
DUSD
|
$0.4636 | $215,226 | 1 | - | 0.0% |
|
|||
JPY Coin
JPYC
|
$0.006227 | $37,581.23 | 9 | - | 0.0% |
|
|||
Klaytn Dai
KDAI
|
$0.2274 | $1,048.43 | 3 | - | 0.0% |
|
|||
Utopia USD
UUSD
|
$0.9996 | $42,213.17 | 2 | - | 0.0% |
|
|||
TrueCNH
TCNH
|
$0.1201 | $21.57 | 1 | - | - |
|
|||
Fathom Dollar
FXD
|
$1.00000 | $581,924 | 3 | - | 0.0% |
|
|||
Binance-Peg BUSD
BUSD
|
Buy
|
$0.9979 | $15,688,036 | 48 | - | 0.0% |
|
||
Zephyr Protocol Stable Dollar
ZSD
|
$0.9751 | $1,316.29 | 3 | - | 0.0% |
|
|||
Bridged USDC (Polygon PoS Bridge)
USDC.E
|
$1.00 | $97,269,654 | 32 | - | 0.0% |
|
|||
Solv Protocol stUSD
STUSD
|
$1.04 | $41.87 | 2 | - | - |
|
|||
Staked FRAX
SFRAX
|
$1.04 | $203,444 | 1 | - | - |
|
|||
Bridged Dai (Lightlink)
DAI.E
|
- | - | 0 | - | - |
|
|||
Bridged Tether (Lightlink)
USDT.E
|
- | - | 0 | - | - |
|
|||
Bridged USDC (Lightlink)
USDC.E
|
- | - | 0 | - | - |
|
|||
What are Stablecoins
Stablecoins are a type of cryptocurrency pegged to a reference asset like fiat money, or other commodities like gold. Stablecoins minimize the volatility of the crypto space by maintaining their pegs. There are four major types of stablecoins: fiat-backed stablecoins, crypto-collateralized stablecoins, commodity-backed stablecoins, and algorithmic stablecoins.
Centralized Stablecoins
Fiat-backed stablecoins, like USDT and USDC, are issued by a central entity and backed by reserves that are equal or greater than their tokens in circulation. However, the reserve breakdown between USDT and USDC is quite different. In the case of USDT, this includes secured loans, corporate bonds, funds and precious metals in addition to cash and cash equivalents. On the other hand, USDC is only backed by U.S. Treasury Securities and cash deposits. Commodity-collateralized stablecoins are similar to fiat-backed stablecoins, except that they are backed by other physical assets like precious metals, oils, or real estate.
Decentralized Stablecoins
Unlike centralized stablecoins, which are issued by a central entity, decentralized stablecoins run on smart contracts, with governance input from a designated community (the DAO). DAI by MakerDao is an example of a decentralized stablecoin, and it is collateralized by other cryptocurrencies such as ETH. In order for DAI to maintain a stable price, users borrow against their locked collateral. Due to the volatility of cryptocurrencies, users must deposit collateral worth more than the value they intend to borrow, and this collateral can be liquidated by the protocol if the value decreases below a certain threshold.
Finally, there are algorithmic stablecoins. These rely on two tokens – a stablecoin and another cryptocurrency that serves as the backing of the stablecoin – and an algorithm (or smart contract) regulates the supply and demand so that the stablecoin can maintain its peg. This worked in the case of Terra’s UST and LUNA, until UST’s depeg in May 2022 resulted in arbitrageurs exchanging it for LUNA, which was then dumped on the open market, creating a freefall on both fronts.
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